Joint Venture Debt definition

Joint Venture Debt has the meaning specified in Section 5.02(a)(vii).

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Joint Venture Debt means Indebtedness and other obligations as to which the lenders will not, pursuant to the terms in the agreements governing such Indebtedness, have any recourse to the stock or assets of the Borrower or any Subsidiary, other than such pledged assets of such JV Subsidiary;

Joint Venture Debt means Indebtedness and other obligations of a Joint Venture or of a JV Subsidiary that owns Equity Interests in such Joint Venture, as to which the creditors will not, pursuant to the terms in the agreements governing such Indebtedness or other obligations, have any recourse to the Equity Interests in or assets of the Borrower or any Restricted Subsidiary, other than the assets of such JV Subsidiary related to such Joint Venture, and the assets of and Equity Interests in, such Joint Venture, provided that, except for Performance Contingent Obligations, neither the Borrower nor any Restricted Subsidiary (other than such JV Subsidiary) (a) provides any direct or indirect credit support, including any undertaking, agreement or instrument that would constitute Indebtedness or (b) is otherwise directly or indirectly liable for such Indebtedness.

Examples of Joint Venture Debt in a sentence

Neither the Company nor any Subsidiary has any obligation to make payments on the Joint Venture Debt other than those permitted by Section 5.17.
Neither the Company nor any Subsidiary will create, incur, assume or suffer to exist any obligation on its part to make any payment on the Joint Venture Debt other than (a) the obligations set forth in the agreements listed on Schedule V hereto with respect to Joint Venture Debt in existence on the date of this Agreement and (b) obligations substantially similar to those referred to in clause (a) with respect to Joint Venture Debt created, incurred, assumed or arising after the date of this Agreement.
Except as set forth on Schedule 3.5(e)(ii) (including, as indicated thereon by reason of a DTI Company being a general partner in a Joint Venture), all the Joint Venture Debt is non-recourse to the DTI Companies.
Partner E: ▇▇▇▇▇@▇▇▇▇▇▇▇▇▇.▇▇ ▇▇▇▇▇ is a corporate-commercial lawyer with fteen years of professional experience in assisting and advising domestic and foreign clients on their matters relating to Employment Law, M&A (shares/business/asset), Private Equity, Joint Venture, Debt Restructuring and Real Estate (leasing and acquisitions), due diligence and commercial documentation (drafting, review and negotiation).
You shall be prepared to, and immediately upon Closing, shall transfer, by federal fund wire transfers, the amounts described in paragraph C7 (Schedule 4) and paragraph C17 (Schedule 6, 7 and 8) of Article VIII of the Funds Transfer Memorandum, to each of the RP Lenders, TP Lenders, Exchange Lenders, and Lenders of the Specified Joint Venture Debt, each pursuant to specific wire transfer instructions set forth in the Schedules 4, 6, 7, and 8 respectively of the Funds Transfer Memorandum.

More Definitions of Joint Venture Debt

Joint Venture Debt means Indebtedness and other obligations of a JV Subsidiary or of a Joint Venture owned by a JV Subsidiary as to which the creditors will not, pursuant to the terms in the agreements governing such Indebtedness, have any recourse to the Equity Interests in or assets of the Borrower or any Subsidiary, other than the assets of such JV Subsidiary and the assets of such Joint Venture, provided that neither the Borrower nor any Subsidiary (other than such JV Subsidiary) (i) provides any direct or indirect credit support, including any undertaking, agreement or instrument that would constitute Indebtedness or (ii) is otherwise directly or indirectly liable for such Indebtedness;

Joint Venture Debt means Indebtedness and other obligations of a Joint Venture or of a JV Subsidiary that owns Equity Interests in such Joint Venture, as to which the creditors will not, pursuant to the terms in the agreements governing such Indebtedness or other obligations, have any recourse to the Equity Interests in or assets of the Borrower or any Restricted Subsidiary, other than the assets of such JV Subsidiary related to such Joint Venture, and the assets of and Equity Interests in, such Joint Venture; provided that, except for Performance Contingent Obligations, neither the Borrower nor any Restricted Subsidiary (other than such JV Subsidiary) (a) provides any direct or indirect credit support, including any undertaking, agreement or instrument that would constitute Indebtedness or (b) is otherwise directly or indirectly liable for such Indebtedness.

Joint Venture Debt means obligations secured by a Lien on the interests of the Company or a Subsidiary, as the case may be, arising under either of the Production Sharing Contracts or any related supply contracts, if such Lien covers ratably the interests of Pertamina and all production sharing contractors thereunder.

Joint Venture Debt at any date, without duplication, the aggregate amount of (a) all indebtedness for borrowed money of each Joint Venture and their respective Subsidiaries determined on a consolidated basis; plus (b) all indebtedness for borrowed money with recourse to any limited or general partnership in which any Joint Venture or any of their respective Subsidiaries is a general partner; plus (c) the sum of (i) all reimbursement obligations with respect to drawn letters of credit (whether financial or performance, but excluding any portion of the actual or potential obligations that are secured by cash collateral) and (ii) the maximum amount available to be drawn under all undrawn letters of credit (whether financial or performance), in each case issued for the account of, or guaranteed by, any Joint Venture or any of their respective Subsidiaries (excluding any portion of the actual or potential obligations that are secured by cash collateral); plus (d) all repayment guarantees of any Joint Venture or any of their respective Subsidiaries of indebtedness for borrowed money of third parties; plus (e) all obligations to the extent due and owing by any Joint Venture and any of their respective Subsidiaries under any Rate Management Transactions; plus (f) Contingent Obligations that are due and payable at the time of determination; plus (g) the amount of all liabilities (without duplication of any liabilities included in clauses (a) through (f) above) reflected on the most recent consolidated balance sheet of each such Joint Venture prepared in conformity with Agreement Accounting Principles, but excluding all liabilities (other than indebtedness for financing insurance premiums) from such balance sheet consisting of the amounts listed under the line items for “Accounts Payable,” and “Accrued Liabilities.”

Joint Venture Debt means, at any date, any Debt of any Joint Venture which Debt is non-recourse to, and is not otherwise supported by the credit of, the Company or any of its Restricted Subsidiaries (except by a Guarantee from a Restricted Subsidiary which Guarantee arises solely by virtue of the fact that such Restricted Subsidiary is a general partner of such Joint Venture; provided that if such Joint Venture is structured such that the Debt of the Joint Venture is recourse to any such Restricted Subsidiary and such Restricted Subsidiary has any assets (other than a de minimus amount of other assets) other than its interest in such Joint Venture, the amount of any such Debt guaranteed by such Restricted Subsidiary shall be considered "Debt" for the purposes of this Agreement).

Joint Venture Debt means any Indebtedness of the Joint Ventures (or any guarantees by Joint Ventures with respect to Indebtedness of other Persons), whether or not such Indebtedness or related guarantee obligation is guaranteed by DuPont.

Filter & Search

Related Definitions